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M E S S A G E F R O M T H E E U R O P E A N A S S O C I A T I O N O F R E A L E S T A T E P R O F E S S I O N S
The Future of Real Estate
The European real estate market is changing in the face of challenges including energy/climate change, digitalisation, urbanisation and an ageing population.
A healthy real estate market is important for a healthy EU Internal Market. The real estate sector is a vital sector which is important for jobs, life and growth in the EU.
There needs to be a coherent European approach to the real estate sector.
Everybody living and working in the EU benefits from a healthy real estate market, for both sales and rental transactions. The stability of the real estate market is crucial for the economy of the EU and for consumers and real estate professionals alike. It provides for many needs including shelter in the form of housing and investment as an important financial asset for both private individuals and businesses, as well as being a source of income through taxation for national governments. Problems in the affordability of housing in both the sales and rental markets need to be addressed and continued ongoing investment must be facilitated by the availability of finance and coherent rules and frameworks for transactions. Ownership of real estate represents an important asset and investment for private individuals and their capacity for ownership needs to be protected and strengthened.
Real estate professionals have a central role to play in providing good quality services which are vital for a healthy market. Real estate agents are strong mediators and motivators for consumers in the implementation of EU policies affecting the real estate market such as energy efficiency and sustainability. Property managers have an important role to play in ensuring the health and safety of a building. They need to ensure accessibility and regular maintenance inspections important for the safety of a building’s occupants as well as its investment value. Both real estate agents and property managers need to be able to operate as freely as possible within the EU Single Market and take the opportunities presented to them by increased mobility and integration. Whilst the national housing markets retain their own characteristics there is increasingly a European market in which professionals must be able to compete according to clear and transparent rules.
Whilst the real estate sector is not a matter of EU competence, the interest of the EU regulator in the sector is now clear, for example in measures relating to the financial sector including legislation on mortgage credit, energy efficiency, state aid and the internal market. Real estate professionals are directly concerned by EU regulation on professional qualifications and services and others such as anti-money laundering legislation. They are also working in businesses increasingly affected by new technology and digitalisation, presenting both new challenges and opportunities.
The real estate sector continues to present challenges for the EU whilst the EU in turn impacts increasingly on the sector and the working lives of real estate professionals.
What are the real estate challenges for the EU?
We see a number of ongoing challenges for the EU:
Therefore looking forward to the election of a new European Parliament in May 2019 we call for recognition of the above-mentioned challenges as set out in more detail below:
The real estate sector is important for the economy of the EU both as a source of value and jobs. The way in which it is treated at EU level needs to be addressed to reflect this and ensure that it is given full consideration.
CEPI calls for:
2. Acknowledge the role for Europe in looking seriously at the real estate sector as an important sector which needs clarity and simplification taking into account the social implications for the EU of a properly functioning real estate market.
Whilst recognising the competence of the Member States in the real estate sector we cannot fail to react to the impact which the EU is now having on the sector and on the working lives of real estate professionals.
CEPI calls for:
In the event of the introduction of new measures they should be proportionate and attention should be paid to their long-term impact on the stability of the market and consequences for real estate professionals.
CEPI calls for:
It is time to acknowledge the important role which the real estate sector has within, and the impact which it has on, the EU economy as a whole. In the name of real estate professionals in Europe CEPI asks that the real estate sector be given due consideration in the discussions and decisions during the next term of the European Parliament.
The mission of CEPI, the European Association of Real Estate Professions, is to support the European real estate market and cross-border transactions by enhancing and strengthening the work and activities of real estate professionals. We represent twenty-five national professional associations of estate agents and property managers based in 18 EU and EFTA countries.